AppLovin (NASDAQ:APP) Shares Down 5.5% - Time to Sell?

Shares of AppLovin Co. (NASDAQ:APP - Get Free Report) traded down 5.5% during mid-day trading on Monday . The stock traded as low as $224.51 and last traded at $225.21. 1,417,282 shares were traded during trading, a decline of 76% from the average session volume of 5,814,607 shares. The stock had previously closed at $238.22.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on APP shares. Benchmark upped their price objective on shares of AppLovin from $375.00 to $525.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Wells Fargo & Company dropped their target price on AppLovin from $538.00 to $386.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. FBN Securities began coverage on shares of AppLovin in a research report on Friday, March 28th. They issued an "outperform" rating and a $385.00 price objective for the company. JPMorgan Chase & Co. dropped their target price on AppLovin from $475.00 to $270.00 and set a "neutral" rating on the stock in a research report on Tuesday. Finally, Piper Sandler lowered their target price on shares of AppLovin from $575.00 to $425.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, AppLovin currently has a consensus rating of "Moderate Buy" and a consensus target price of $414.05.

AppLovin Stock Performance

The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The firm has a 50-day moving average of $300.39 and a 200 day moving average of $298.16. The stock has a market capitalization of $90.35 billion, a P/E ratio of 58.54, a PEG ratio of 3.02 and a beta of 2.39.

AppLovin (NASDAQ:APP - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, beating analysts' consensus estimates of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. Research analysts anticipate that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Insider Buying and Selling at AppLovin

In other news, CEO Arash Adam Foroughi sold 45,000 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $422.21, for a total transaction of $18,999,450.00. Following the sale, the chief executive officer now owns 2,914,492 shares in the company, valued at approximately $1,230,527,667.32. This represents a 1.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Vasily Shikin sold 17,500 shares of the company's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the transaction, the chief technology officer now owns 88,389 shares in the company, valued at $21,359,201.85. The trade was a 16.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 306,900 shares of company stock worth $106,401,841 over the last ninety days. Corporate insiders own 14.69% of the company's stock.

Institutional Investors Weigh In On AppLovin

Several hedge funds and other institutional investors have recently made changes to their positions in APP. FMR LLC raised its holdings in AppLovin by 75.5% during the 4th quarter. FMR LLC now owns 13,851,122 shares of the company's stock worth $4,485,409,000 after purchasing an additional 5,957,885 shares during the last quarter. SVB Wealth LLC bought a new stake in AppLovin in the fourth quarter valued at about $1,781,922,000. Baillie Gifford & Co. grew its position in shares of AppLovin by 5,421.4% during the 4th quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company's stock worth $1,322,682,000 after buying an additional 4,010,520 shares during the period. Norges Bank acquired a new stake in shares of AppLovin in the 4th quarter valued at approximately $828,138,000. Finally, Arrowstreet Capital Limited Partnership boosted its stake in AppLovin by 457.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,893,148 shares of the company's stock worth $936,888,000 after acquiring an additional 2,373,885 shares during the last quarter. 41.85% of the stock is owned by institutional investors and hedge funds.

AppLovin Company Profile

AppLovin Corporation engages in building a software-based platform for advertisers to enhance the marketing and monetization of their content in the United States and internationally. It operates through two segments, Software Platform and Apps. The company's software solutions include AppDiscovery, a marketing software solution, which matches advertiser demand with publisher supply through auctions; MAX, an in-app bidding software that optimizes the value of a publisher's advertising inventory by running a real-time competitive auction; Adjust, a measurement and analytics marketing platform that provides marketers with the visibility, insights, and tools needed to grow their apps from early stage to maturity; and Wurl, a connected TV platform, which distributes streaming video for content companies and provides advertising and publishing solutions through its AdPool, ContentDiscovery, and Global FAST Pass products.